LYKE
Discover and shop the latest fashion trends.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
| EUR | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | - | - | - | 8 % | 10 % | - |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | - | - | - | 2 % | 1 % | (19 %) | - |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | - | - | - | - | (6 %) | (30 %) | - |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
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LYKE was a mobile-first fashion and beauty marketplace specifically targeting the Indonesian market. The company operated as an aggregator, providing users with a single platform to discover and purchase items from a multitude of online stores, ranging from large e-commerce sites like Berrybenka and Sociolla to smaller, independent sellers. Its business model centered on creating a seamless, mobile-only shopping experience, which included personalized recommendations and content from fashion influencers. A key technological differentiator was its use of visual recognition and artificial intelligence, allowing users to search for products simply by uploading a picture.
The company was founded in 2015 by Bastian Purrer, who served as CEO. Purrer, who holds an MBA from Harvard Business School, brought significant e-commerce experience to the venture, having been an early employee at Groupon and the first Chief Marketing Officer for Zalora. His background in building and scaling digital marketing teams across several countries was instrumental in LYKE's strategy. In October 2017, the company made a significant move by bringing on Indonesian pop star Agnez Mo as a co-founder and Chief Creative Officer, a partnership aimed at boosting the brand's profile and leveraging her influence in the fashion world.
LYKE achieved several milestones, including securing nearly US$4 million in a Series A funding round in August 2016, led by Holtzbrinck Ventures and APACIG. By that time, just six months after its February 2016 launch, the app had reportedly reached one million downloads. Despite reaching almost 2 million users, the company faced operational challenges. In early 2018, LYKE was acquired by the Chinese e-commerce firm Jollychic, and subsequently ceased its own operations, with the majority of its team transitioning to become part of Jollychic Indonesia.
Keywords: LYKE, Bastian Purrer, Agnez Mo, Indonesian fashion app, mobile marketplace, visual search, fashion discovery, e-commerce aggregator, Jollychic acquisition, Zalora, Indonesian startups, Holtzbrinck Ventures, fashion technology, beauty marketplace, personalized shopping, AI in fashion, mobile commerce